MITOSHI: REDESIGNING THE LOTTO INDUSTRY
What is Mitoshi?
One of only a few real-life applications that use blockchain technology, Mitoshi is the next generation of online gaming platform and crypto lotteries powered by the blockchain. Mitoshi CryptoLotto will bring forth a completely transparent and fair lottery experience to the global market. Players will be able to enjoy a wide array of lottery games with nearly instant payouts.
Mitoshi CryptoLotto will built on a fully decentralized platform for organizing and administering the global lottery operation. The smart contract on Ethereum blockchain uses to collect and distribute funds as well as lottery sales commissions payment through referral program. With smart contracts, winning numbers nor lottery tickets could not be counterfeited. And as a decentralized community owned by the internet community, Mitoshi CryptoLotto could not be shut down.
The Blockchain technology provides several advantages for the lottery industry, making its integration not only very useful but also making it an important step to expand the industry. By utilizing the smart contract on Ethereum blockchain, Mitoshi aims to solve the existing problems of traditional lotteries, including:
- Lack of fairness transparency
- Lack of innovation
- Regulatory setbacks
- Long payment
- Stunted growth
Additionally, Mitoshi will issuing its native ERC20 exchangeable Mitoshi tokens (MTSH) on the Ethereum network. Mitoshi tokens are application coins that can be used to participate in the Mitoshi Cryptolotto platform. The Mitoshi team believes that cryptolotto is a viable and a profitable initiative given the strong growth of the industry and the demand for a fair, transparent and secure platform for doing lotteries. Mitoshi tokens do not constitute ownership of the company. And should not be construed as securities
How It Works?
Those who want to purchase these lotto tickets can either go to Mitoshi website or download the app. They can register and an e-wallet will be assigned to them. They either deposit cash or transfer their bitcoin or ethereum assets into the e-wallets. And can purchase Mitoshi play tokens after these assets are credited. Mitoshi lottery can only be purchased through Mitoshi tokens and will be priced at 1 Mitoshi coin per ticket.
There will be 7 Major Draws, 6 of which will have repeated draws in a week. The winning combination will be drawn randomly with the help of the blockchain based RNG (the 6 numbers will be taken from the unique code of the latest bitcoin block mined). After all the numbers in the lottery have been drawn and should we have a winner, winnings will be automatically transferred to the owners of the winning ticket through the algorithm built in the smart contract. Winnings are automatically paid in full within 60 seconds of the drawing. Transfers are made to the cryptocurrency wallets that were used to buy the winning tickets.
Mitoshi Token: MTSH
MTSH is a core component of the Mitoshi CryptoLotto. It will be used to access the different games and lottos provided within the Mitoshi platform. This design makes the token an integral part of the platform and core component to the lottery’s growth and operations. Token balances and transfers will be tracked by Mitoshi.
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